Zurn Elkay Water Solutions Cor $ZWS Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Zurn Elkay Water Solutions stake by 9,573.6% in the third quarter, buying 651,198 shares and bringing its holding to 658,000 shares.
• Zurn Elkay reported quarterly EPS of $0.52, above the $0.50 consensus, while revenue rose 8.7% year over year to $495.1 million.
• The company raised its quarterly dividend from $0.11 to $0.13 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $54.67.

International Assets Investment Management LLC increased its position in Zurn Elkay Water Solutions Cor (NYSE:ZWS - Free Report) by 9,573.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 658,000 shares of the company's stock after purchasing an additional 651,198 shares during the quarter. International Assets Investment Management LLC owned approximately 0.40% of Zurn Elkay Water Solutions Cor worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kilter Group LLC purchased a new stake in Zurn Elkay Water Solutions Cor in the second quarter worth $25,000. Root Financial Partners LLC purchased a new position in Zurn Elkay Water Solutions Cor during the third quarter valued at $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Zurn Elkay Water Solutions Cor during the 2nd quarter valued at $27,000. Assetmark Inc. grew its position in shares of Zurn Elkay Water Solutions Cor by 53.0% in the 1st quarter. Assetmark Inc. now owns 843 shares of the company's stock worth $38,000 after buying an additional 292 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Zurn Elkay Water Solutions Cor in the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 83.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Mizuho set a $48.00 price target on shares of Zurn Elkay Water Solutions Cor in a research report on Thursday, October 29th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 20th. Stifel Nicolaus increased their target price on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Wednesday, July 29th. Finally, Barclays lowered their price target on Zurn Elkay Water Solutions Cor from $61.00 to $56.00 and set an "overweight" rating for the company in a research report on Thursday, October 29th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.67.

Zurn Elkay Water Solutions Cor Price Performance

Shares of ZWS opened at $43.80 on Friday. Zurn Elkay Water Solutions Cor has a twelve month low of $42.89 and a twelve month high of $55.00. The company has a market capitalization of $7.23 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. The firm has a 50 day moving average of $46.73 and a 200 day moving average of $48.22. The company has a quick ratio of 1.95, a current ratio of 2.85 and a debt-to-equity ratio of 0.29.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. Zurn Elkay Water Solutions Cor had a return on equity of 18.46% and a net margin of 15.91%. The business had revenue of $495.10 million for the quarter, compared to analysts' expectations of $493.36 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm's quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that Zurn Elkay Water Solutions Cor will post 1.86 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 20th will be paid a $0.13 dividend. This is an increase from Zurn Elkay Water Solutions Cor's previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 20th. Zurn Elkay Water Solutions Cor's dividend payout ratio (DPR) is presently 30.41%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In other Zurn Elkay Water Solutions Cor news, Director Jacques Butler purchased 2,016 shares of the stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $49.60 per share, with a total value of $99,993.60. Following the completion of the acquisition, the director directly owned 37,487 shares in the company, valued at $1,859,355.20. This trade represents a 5.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation NYSE: ZWS is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.

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